No decision adopted yet on OPEC meeting

Baku. 2 February. REPORT.AZ/ OPEC and non-OPEC countries have not yet agreed to hold a meeting to support oil prices, Report informs referring to the Russian media.

A decision has yet to be made on the stand-alone OPEC meeting as called for by Venezuela last week.

The offer supported only by Algeria, Nigeria and Ecuador.

The indecision continues to undermine oil price but previous hopes helped a decent rally last week. Conjecture on a potential meeting has been building and fading for over a week since Russia suggested talks with OPEC should take place.

The unnamed OPEC delegate told Reuters.

" It's all in the hands of the Russians now".

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